Maryland State Retirement & Pension System Sells 1,912 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Maryland State Retirement & Pension System cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,665 shares of the semiconductor company's stock after selling 1,912 shares during the quarter. Maryland State Retirement & Pension System's holdings in Analog Devices were worth $5,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB increased its position in shares of Analog Devices by 6.7% in the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock worth $666,137,000 after purchasing an additional 180,870 shares during the period. United Bank raised its position in Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock valued at $1,394,000 after purchasing an additional 273 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Analog Devices by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company's stock worth $5,832,000 after buying an additional 582 shares in the last quarter. Quest Partners LLC bought a new position in shares of Analog Devices in the third quarter worth about $210,000. Finally, Pathstone Holdings LLC lifted its stake in Analog Devices by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 71,981 shares of the semiconductor company's stock valued at $16,568,000 after purchasing an additional 1,050 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

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Analog Devices Price Performance

NASDAQ ADI traded up $7.94 on Monday, hitting $212.34. The stock had a trading volume of 3,457,578 shares, compared to its average volume of 3,112,187. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a market capitalization of $105.32 billion, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The firm has a 50-day moving average of $217.17 and a 200-day moving average of $219.83.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock valued at $5,082,860. Insiders own 0.33% of the company's stock.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.